Agent

Sun sets on McMansions

How economics of building larger homes have changed
Published on Jan 21, 2011

Watch Connect NYC 2017 Live
Tune in live as the best and brightest explain how to execute and grow your business from the main stage of Connect.

The ongoing recession has done the country one good turn; it has -- at least for the time being -- killed off the McMansion Era.

The decade that brought us those monstrous homes of little architectural distinction in far-flung suburbs had surprisingly begun to unwind as early as 2006, but it took a five-year run of collapsing home prices and rampant foreclosures to kill it off, maybe not forever, but at least for the time being.

"The median-sized home being built today is smaller," reported Paul Bishop, vice president of research for the National Association of Realtors. "And our survey of homebuyers indicates that as well. People buying new homes today tend to purchase slightly smaller homes than homebuyers of even a few years ago."

Comments